Recent trends of Pharmaceutical Industry

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Recent trends of Pharmaceutical Industry

While many pharmaceutical companies have successfully deployed a plethora of

strategies to target the various customer types, recent business and customer trends are

creating new challenges and opportunities for increasing profitability.

In the pharmaceutical and healthcare industries, a complex web of decision-makers determines

the nature of the transaction (prescription) for which direct customer (doctor) of the pharma

industry is responsible. Essentially, the end-user (patient) consumes a product and pays

the cost.

Use of medical representatives for marketing products to physicians and to exert some

influence over others in the hierarchy of decision-makers has been a time-tested tradition.

Typically, salesforce expense comprises an estimated 15 percent to 20 percent of annual

product revenues, the largest line item on the balance sheet. Despite this other expense,

the industry is still plagued with some very serious strategic and operational level issues.

Note: I will keep posting more interesting facts about the Pharmaceutical Industry.

Trends In Pharmaceutical Industry,Pharmaceutical industry
Recent trends of Pharmaceutical Industry

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